$IST the new Cosmos Stablecoin built on Agoric

Agoric is developing a secure distributed ocap platform for smart contracts and market-oriented programming. The platform supports the development of smart contracts and market institutions across many different scales, from large public blockchains to small two-party contracts.

The ocap platform consists of:

• A robust architecture for building secure smart contracts.
• A foundation in JavaScript for maximum reach.
• A cryptographic routing fabric for inter-chain interoperability.
• A library of market abstractions and a framework for securely composing them.
• A framework for secure user interaction.
• Easy access to liquidity and DeFi services including treasury vaults, governance, and the Automated Market Maker.
• Cross-chain asset transfer from the Cosmos and Ethereum networks directly to your project.

The Agoric tokens connect internal transactions in the Agoric ecosystem with global capital markets, computation resource markets, and user demand. The Agoric chain features two native tokens:

• $IST inter stable token, is a stable currency soft-pegged to the US dollar (USD). $IST provides a local medium of exchange to facilitate transactions. The $IST protocol is governed and managed by the community of BLD holders, who determine the acceptable collateral types, rules of $IST issuance, and other parameters. Participants borrow $IST by depositing digital collateral in participant-controlled vaults. $IST is collateralized by certain digital assets, such as ATOM, ETH, or USDC, as determined by the community through governance subject to risk assessment and legal limitations. $IST is backed by 100% crypto assets. Users can borrow and repay $IST on demand. Borrowers pay a stability fee denominated in $IST, which is used to reward stakers. The more economic activity on the chain, the more demand for $IST.
• BLD, a staking/utility token supporting economic activity within the Agoric ecosystem. It ensures the chain’s security increases in tandem with the network’s economic activity.

Agoric sold over $50 million of its native BLD tokens under two hours during its ICO public token sale, which took place from the 29 Dec – 5 Jan 2022, on the CoinList platform. Adding to a private sale that garnered some $30 million, combined with an earlier seed round, the project has thus far raised over $90 million.

Building on 30 years of experience, Agoric is built by a team of diverse background with a great wealth of experience. The (CEO) E. Dean Tribble, (CTO) Mark Miller, (Engineering Lead) Brian Warner, (Economist) Bill Tulloh. The team has been working on smart contracts for decades before it was called a blockchain. Agoric was first launched in the 1990s. They definitely do have some skin in the game.

As a current validator on many major PoS networks, 01node has the expertise and time tested infrastructure to be a highly secure and reliable node. We joined the Agoric chain as a validator. We have a track record of 99.9% uptime, low commission fees and zero slashing penalty. We aim to join other validator on the chain to provide security to the chain.

To stake your Agoric token with us, click here.

In conclusion,

The Agoric chain supports the creation and exchange of a wide range of digital assets while providing ease of programming, safety guarantees, composition, and interoperability between chains. As a result, it makes an ideal platform for a wide variety of DeFi use cases from automated market-makers (AMMs) to sophisticated derivatives markets.